https://www.taxtmi.com/caselaws?id=289920 The appeals filed by the assessee against the Commissioner of Income Tax (Appeals) were initially barred by limitation, but the delay was condoned due to its shortness. The Supreme Court clarified that interest under Section 244A of the Income Tax Act is only on statutory interest, not on interest on interest, and held that the interest component is part of the amount due to the assessee. The Tribunal directed the Revenue to pay compensation for delayed payment of interest due to inordinate delay, entitling the assessee to simple interest on the amount due. As a result, the appeals of the assessee were allowed. en-us Tue, 31 Oct 2017 00:00:00 +0530 Sun, 30 Aug 2020 13:28:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289920 The appeals filed by the assessee against the Commissioner of Income Tax (Appeals) were initially barred by limitation, but the delay was condoned due to its shortness. The Supreme Court clarified that interest under Section 244A of the Income Tax Act is only on statutory interest, not on interest on interest, and held that the interest component is part of the amount due to the assessee. The Tribunal directed the Revenue to pay compensation for delayed payment of interest due to inordinate delay, entitling the assessee to simple interest on the amount due. As a result, the appeals of the assessee were allowed. Case-Laws Income Tax Tue, 31 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289920